Modeling the decentralized energy investment and operation in the prosumer era: a systematic review

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Abstract

This paper reviews the literature on the modeling approaches on decentralized energy investment and operation in the prosumer era. The study has several contributions. Firstly, it adds investment models into the review which have not been previously reviewed for decentralized energy modeling. Secondly, a modeling framework consisting of four building blocks is proposed that covers model conceptualization and model operationalization. Thirdly, the relationship between trading mechanisms and model methods is revealed using four evaluation criteria. Furthermore, by reviewing the papers, several trends in the literature are found. Operational models and local markets have been extensively studied, while wholesale market integration and investment models lack scientific attention. Among different trading mechanisms, the usage of bilateral contracts is most commonly seen. Lastly, optimization models significantly outnumber other model methods, and then it follows that their pitfalls such as the scalability of the model and the existence of stable outcomes need to be further addressed in future research.
Original languageEnglish
Title of host publicationProceedings of 2020 IEEE PES Innovative Smart Grid Technologies Europe, ISGT-Europe 2020
Pages1079-1083
Number of pages5
ISBN (Electronic)9781728171005
DOIs
Publication statusPublished - 2020

Publication series

NameIEEE PES Innovative Smart Grid Technologies Conference Europe
Volume2020-October

Bibliographical note

Green Open Access added to TU Delft Institutional Repository ‘You share, we take care!’ – Taverne project https://www.openaccess.nl/en/you-share-we-take-care Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public.

Keywords

  • Investment
  • Market design
  • Modeling
  • Operation
  • Prosumers
  • Review

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